Live streaming is booming! The US live streaming market will reach $25 billion in 2023

As e-commerce is developing rapidly, real-time shopping is also rising rapidly. Consumers watch live videos while shopping in real time. The combination of entertainment and e-commerce has become a new driving force for development. According to Coresight Research, the live streaming market in the United States is expected to reach US$25 billion by 2023.

Live shopping is on the rise, and live streaming business of US e-commerce is growing

Live shopping, where you shop while watching live broadcasts, is already a major trend in China's e-commerce development, but it is only just beginning to gain traction in the U.S. Professional analysts predict that live streaming will soon change the U.S. retail industry and set off a new shopping craze, especially in the beauty industry.

As live streaming e-commerce business has taken off in China and other parts of the world, the e-commerce live streaming business in the United States has also grown rapidly, with categories including clothing, cosmetics and even alcohol. Previously, Walmart had live-streamed products on TikTok, its cooperative live streaming platform .

Heather Ibberson, an analyst at retail market intelligence company Edited, said : "Consumers are more eager to interact directly with brands and hope to get answers immediately after asking questions. Live streaming can meet consumers' personalized needs, which is an advantage that other shopping methods do not have."

Young consumers are the main audience of live streaming

Driven by live streaming, beauty brands including La Mer and Bobbi Brown Cosmetics have seen sales increase by 60 % year-on-year , which fully demonstrates the potential of live streaming.

“Younger consumers prefer to buy products through live streaming, and most live streaming viewers are Gen Z and millennials,” said Erin Schmidt, a beauty industry analyst at Coresight Research. In addition, he pointed out that more than 41% of TikTok users are under the age of 24, while in the United States, 77% of users aged 15 to 25 use YouTube.

Looking at the development of e-commerce, live streaming seems to be the only way to increase consumer engagement. Live streaming can keep consumers engaged for ten minutes or even hours, thereby increasing the chances of sellers selling more goods. Consumers can also have a better understanding of the specifics of the product , which is a win-win for sellers and consumers.

Currently, e-commerce in the United States is still in its early stages. There is still a gap between social media and business, and the live shopping ecosystem is not perfect. However, many American companies have realized the necessity of integrating e-commerce with social media. It is expected that all industries will release greater development potential through live streaming in the future.

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